The crypto bull run took a pause with a sudden sell-off across the crypto market. According to data from Coinglass on Sept. 22, a wave of liquidations shook through exchanges, wiping out an estimated $1.7 billion in positions in less than 24 hours. Overleveraged traders and investors were caught off guard as there was no major news to support a sudden nosedive in crypto prices. In total, the crypto market lost over $230 billion in value, representing a 5.6% drop in market cap.